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Search Results 0 to 16 of about 17 (some duplicates have been removed)
trillion in deficit reduction. we need to stabilize the debt and work it down is a package of about $4 trillion over ten years. here we are today, december 19, and these law changes which i referenced earlier, the end of the bush era tax cuts, the dreaded sequester, across the board cuts of $1.2 trillion in spending will begin to take effect the first of next year. the good news is the white house and republicans have been trading proposals and at least yesterday appeared to be moving closer together. i would have much preferred that they would be talking about a bigger package than they've discussed but nonetheless to reach a package that would resolve some of these issues would be an important step forward and i think help promote certainty that would be important to our economy. on the revenue side of the equation, i just want to remind you what it's taken in the past to balance the budget. we hear talk on average revenue is in the 18% of g.d.p. range n. getting back to average you will should be sufficient. the problem with that is we have never balanced the budget in the last 50 y
-class families that are already facing a real financial panic. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president reach a deal. if they don't reach a deal on december 31, which is my prediction, i believe sometime before the end of january, they will reach a deal. but my goodness. one of the things that is frustrating is we have known this day was coming for the last two years. yet here we are, 72 hours away and we don't have a resolution. gregg: this is a contrivance that they are desperately trying to fix. our member the president said in a debate, the debate, he said that i didn't come up with this. then bob woodward came out and said, yes, you did. you know, both
our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once, or whether it happens in several different steps. but in 10 days, we face a deadline. in 10 days, under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single
program run a billion deficit in 2012 . as the program brought in over 725 billion in cash and spent more than it earned it is costing 773 billion. >> julia: and you are surprised. benefits reached over 8 million and 820,000 in increase in november . so something shady is going on here. >> you used the word shady . i think that is a pretty good word to use. definition of who is disabled is expanded over the yearrs and recently, as you have a massive rise in unemployment and work force clinking and clearly some people are taking the disability option as opposed to staying in the work force. you can call it shady or financially unfortunate but it is happening. we never had as many people on disability ever before. >> clayton: republicans have a look at entitlement programs and we are trying to reign in the excessive spending. >> there are no serious cuts from president obama. there is serious effort at reforming. medicare and medicare. a lot of people don't say social security is enment. it is an insurance program. but it is enormous amount of money flowing out than in and it is getting wor
to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid that people wh
and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> you know, president obama today could have come out, and he could have just punched boehner right in the nose. he could have come out and kicked the guy today when he was politically down. but the president came out today with a demeanor of, hey, let's do a deal. it was a rough night at the office, but let's not give up on this. president obama has gone back to the basics. the days of the grand bargain he knows are over. but the president wants an extension on tax cuts for income below $250,000, as well as extended unemployment benefits. what's wrong with that? spending cuts can be dealt with later on in the future. and, of course, as luck would have it, there is already a bill exactly like this sitting in the united states senate. harry reid passed it back in july, and republicans refused to vote on it. boehner, why don't you vote on that? the time for complaining about this deal, totally over. >> nobody can get 100% of what they want, and this is n
hike on mid class, >> and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> bayne never >> holman: in his appearance earlier, boehner, flanked by majority leader eric cantor, sounded doubtful, but said he's willing to try. >> how we get there, god only knows. all i'm telling you is that eric and i, and our team here are committed to working with our colleagues on both sides of the aisle, both sides of the capitol, and the white house to address that. >> holman: still, as the capitol emptied for the holiday, the clock was ticking down to more than $500 billion in spending cuts and tax hikes kicking in. >> woodruff: and to the analysis of shields and gerson-- syndicated columnist mark shields and "washington post" columnist michael gerson. david brooks is off tonight. gentlemen, good to have you with us. >> good to be with you. >> woodruff: so mark, the fiscal cliff, it's still with us. it's still out there. the president made a last minute statement late this afternoon. where does everything stand?
, who are providing us also with the means to float the deficit. these are the people providing a lot of our financing. well, at some point if this goes on long enough, they begin to think, hold it. >> who's writing a lot of our financing? >> mainly foreign governments as well as markets. holding on to treasuries and the rest. so the question, then, at some point do they go, hold it. if these guys aren't serious, why am i depending upon them so much? and the scariest single scenario is ultimately people start saying before i continue to float the united states, i want to get a slightly higher return to take -- in order to -- because of this risk. because of this uncertainty. that is the day the spiral begins because that's the day mr. bernanke and his colleagues have to think about raising rates in order to attract the necessary financing. we don't want to get there. and what's so scary about this twofer of the cliff and the debt ceiling over the next two months, basically till the end of february, is for the rest of the world looking at us, we essentially have -- it's not so much nex
the special mission had to rely on a militia, with skill deficits. overall, the board found the security systems and procedures were implemented properly by american personnel. ecosystem's themselves and the libyan response fell short on the night of the attacks -- those systems themselves and the libyan response fell short on the night of the attacks. their decision to depart the special mission without ambassador stevens kim after repeated efforts of many u.s. security agents -- came after manytepeated efforts of u.s. security agents. benghazi, tripoli and washington coordinated effectively with each other on the night of the attacks. the interagency response was timely and appropriate. but there was not enough time for u.s. military forces to have made a difference. having said that, it is not reasonable nor feasible to tether u.s. forces at the ready to respond to protect every high risk post in the world. we have found that there was no immediate tactical warning of the september 11 attacks. if there was a knowledge gap in the intelligence community's en understanding of extremist m
to reduce the deficit and then double it, do you think the american electorate was cognizant of the fact that obama doubled in it instead of cutting it in half? why don't the american people care about the debt of the united states of america? guest: i do think they care about it. the economy is the number-one issue. guess what? then it comes down to things like jobs. then you come to the debt. it is not that americans are out of touch with the idea that the government is spending more money than we are taking in. there is lots of concern about whether or not the chinese is holding our debt. so, americans are very concerned and that the question is how you go about addressing this problem -- are very concerned. the question is how you go about addressing this problem. president obama and the democrats are saying we have a combined problem both in terms of not sufficient taxation and also we have to have cuts in spending. we have to do the cuts in spending over time because you do not want to endanger a very fragile economy. to respond directly to your question, why do i think the elector
to people in united states of america who are in need of help, or help reduce the deficit that was testified to be the greatest national security threat to the united states of america. it is a matter of priorities. i appreciate the very noble -- i emphasize the word noble -- effort to help people who are in harm's also way in various parts of the world. my colleague from florida mentioned somalia. certainly in vietnam we tried to do the noble things. we're in a different financial reality. in the absence of a national security interest in the congo, i am afraid that sequestration will force us to retract even though we may wish to the contrary. i yield back the remainder of my time. >> a couple of questions. sequestration is not only obama's, but also our responsibility. i believe we voted for it. >> i did not vote for it. >> we talked about this whole issue. it has been suggested that perhaps -- >> $80 million. is that more or less correct? [indiscernible] >> we will hear that in a few moments. if that is correct, i would point out that this really is a national security issue for america
Search Results 0 to 16 of about 17 (some duplicates have been removed)

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